The Global Financial System comprises a sophisticated network of institutions, markets and mechanisms essential for capital mobilisation, financial asset exchange and risk reduction by enterprises, governments and individuals. Key components include banks, stock exchanges, bond markets and regulatory bodies, notably central banks. This system efficiently makes international trade and investment easier, providing robust channels for seamless fund transfers across global borders and currencies. Its fundamental stability and operational efficiency are important in promoting sustained economic growth and stability on a global scale. Despite challenges such as occasional financial crises and regulatory complexities, ongoing technological advancements continually enhance its operational adaptability and effectiveness. Understanding and utilising these dynamics are critical for stakeholders to navigate and capitalise on the opportunities presented by today's interconnected global financial landscape. This book outlines the processes and applications of central bank digital currencies and the global financial systems in detail. The topics included in this book on accounting and finance are of utmost significance and bound to provide incredible insights to readers. Those with an interest in the field would find this book helpful.